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Charleston, SC Economy

Charleston is home to the thriving Port of Charleston (sixth largest U.S. container port by cargo value), has a large military presence and is a popular tourist destination with over 4.33 million visitors in 2007 (source: Office of Tourism at the College of Charleston).  In fact, according to the Charleston Regional Development Alliance, the visitor industry adds more than $3 billion to the local economy each year. 

Vought Aircrafts, Hagemeyer North America (US headquarters), Bosch, Blackbaud…are all companies already located in the Charleston area. Google, one of the largest Internet search engines, recently purchased 514 acres in the Charleston area.  Thus, our area continues to see tremendous growth with new companies moving to the area and local company expansions.  

Charleston’s economy is recognized nationally and internationally by various media. 
 
Here are some designations Charleston has recently received (courtesy of Charleston Regional Development Alliance):
 
DESIGNATION
Description
Publication/Date
Five-Star Logistics Metro
Listed among top 20 percent
Expansion Management
Sept/Oct 2007
Top Real Estate Markets for Expanding Companies
A top 15 mid size metro
Expansion Management
Sept/Oct 2007
Economic Development Hotspots
Ranked 6th among mid-sized markets
Expansion Management
Sept/Oct 2007
Best Performing Cities: Where America’s Jobs Are Created
Ranked 12th among largest U.S. metros
Milken Institute
September 2007
Job Market Leaders
Ranked 5th in private-sector job growth
Bizjournals
September 2007
Where to Live Now. Best Towns in America
Best Big City on the East Coast
Awards
August 2007
Hot Growth for Incomes
Ranked 5th in per capita income growth
Bizjournals
June 2007
Best Places for Business Attraction
A top 15 midsize metros
Expansion Management
May/June 2007
Top U.S. Cities for Doing Business
A top 15 midsize metro
Inc.
May 2007
Best Places for Business and Careers
In the top 25 for job growth
Forbes
April 2007
North American City of the Future
Ranked 2nd for infrastructure among large metros
fDi (a Financial Times publication)
April 2007
Five-Star Knowledge Worker Metros
Listed among top 20 percent
Expansion Management
March/April 2007
America‘s 50 Hottest Cities for business expansion
Ranked among top 25

 

The websites below have current up-to-date statistics on not only our population but our future projections of growth:

Job Forecast—Business Environment 
http://www.crda.org/ba_bizenvironment.html

Business Expansions and Relocations
http://www.crda.org/data_quickstats_expansion.html

Population & Growth (Charleston area)
http://www.crda.org/business/market_profile/index.html

Cost of Living
http://www.crda.org/life_living_cost.html

Below please find a document prepared by the Center for Business Research, Charleston Metro Chamber of Commerce, that compares the Cost of Living in Charleston to other cities in the nation. 

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